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Author : Paul Robert Milgrom
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (835 download)
Download or read book Price and Advertising Signals of Product Quality written by Paul Robert Milgrom and published by . This book was released on 1984 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven A. Matthews
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (229 download)
Download or read book Advertising Signals of Product Quality written by Steven A. Matthews and published by . This book was released on 1990 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Juan Feng
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Performance-Based Advertising written by Juan Feng and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Performance-based advertising is becoming increasingly popular in the online advertising industry, where the advertiser pays to the publisher only when an "action" (e.g., a click-through) is generated by the advertisement. We study how the performance-based advertising scheme affects one of the fundamental functions of advertising - signaling product quality. We identify two critical factors that affect the signaling function of advertising under performance-based pricing: (1) the demand uncertainty factor, which measures advertisers' uncertainty about their potential market, and (2) the advertising performance over-measure factor, which describes the extent to which product performance accounts for advertising performance. We find that the uncertainty factor facilitates, but the over-measure factor impedes (or even destroys) the signaling function of performance-based advertising. Specifically, our results show that in the presence of the over-measure factor, switching from impression-based to performance-based advertising: (a) reduces the number of situations in which advertising can be used to signal quality, (b) increases the prices charged to consumers, (c) increases the expected advertising expenditure if the cost differentiation between the high- and low-quality firms is sufficiently high, but decreases the expected advertising expenditure otherwise, and (d) increases the advertiser's profit if the over-measure factor is low but the uncertainty factor is high, and decreases the profit otherwise.
Author : Ignatius J. Horstmann
Publisher : London, Ont. : Department of Economics, University of Western Ontario
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)
Download or read book Advertising as a Signal of Product Quality written by Ignatius J. Horstmann and published by London, Ont. : Department of Economics, University of Western Ontario. This book was released on 1995 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Doron Fertig
Publisher :
ISBN 13 :
Total Pages : 143 pages
Book Rating : 4.:/5 (296 download)
Download or read book Advertising as a signal of product quality written by Doron Fertig and published by . This book was released on 1989 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Scott Shane
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (797 download)
Download or read book An Empirical Test of Advertising and Price as Signals of Product Quality written by Scott Shane and published by . This book was released on 1991 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dissipative Advertising Signals Quality even without Repeat Purchases written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Scott Davis
Publisher :
ISBN 13 :
Total Pages : 302 pages
Book Rating : 4.F/5 ( download)
Download or read book The Role of Price as a Signal of Product Quality in Monopolistic Markets written by Scott Davis and published by . This book was released on 1989 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book With a Little Help from My Enemy written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tulin Erdem
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book A Dynamic Model of Brand Choice When Price and Advertising Signal Product Quality written by Tulin Erdem and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we develop a structural model of household behavior in an environment where there is uncertainty about brand attributes, and both prices and advertising signal brand quality. Four quality signaling mechanisms are at work in the model: 1) price signals quality, 2) advertising frequency signals quality, 3) advertising content provides direct (but noisy) information about quality, and 4) use experience provides direct (but noisy) information about quality. We estimate our proposed model using scanner panel data on ketchup. If price is important as a signal of brand quality, then frequent price promotion may have the unintended consequence of reducing brand equity. We use our estimated model to measure the importance of such effects. Our results imply that price is an important quality signaling mechanism, and that frequent price cuts can have significant adverse effects on brand equity. The role of advertising frequency in signaling quality is also significant, but it is less quantitatively important than price.
Author : Sunku Hahn
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Advertising of Credence Goods as a Signal of Product Quality written by Sunku Hahn and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The advertising of credence goods is analyzed in a similar way to the way Milgrom and Roberts analyzed the advertising of experience goods. The existing literature on credence goods has not considered the possibility that some consumers have the expertise to assess the product's quality and the possibility that the producer can advertize. I assume these two points and show that there exists a unique equilibrium that survives the 'intuitive criterion'. Also, it is shown that through encouraging producers to accept new technologies advertising may increase social welfare instead of just being a pure social cost.
Author : Laurent Linnemer
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (248 download)
Download or read book Dissipative Advertising Signals Quality Even Without Repeat Purchases written by Laurent Linnemer and published by . This book was released on 2008 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists have emphasized the role of dissipative advertising and price as signals of quality. Most works, however, limit the number of types to two options: high and low quality. Yet, production costs and quality both result from R&D efforts and therefore are both uncertain. I characterize the optimal separating marketing mix (price and advertising) when quality and marginal cost are both subject to chance. In a static framework (no repeat purchases and no informed consumers), advertising appears to be necessary together with price to signal quality. Equilibrium profits depend on cost but not on quality: all rents are dissipated for signaling purpose.
Author : Paul Belleflamme
Publisher : Cambridge University Press
ISBN 13 : 1139485245
Total Pages : 725 pages
Book Rating : 4.1/5 (394 download)
Download or read book Industrial Organization written by Paul Belleflamme and published by Cambridge University Press. This book was released on 2010-01-07 with total page 725 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial Organization: Markets and Strategies provides an up-to-date account of modern industrial organization that blends theory with real-world applications. Written in a clear and accessible style, it acquaints the reader with the most important models for understanding strategies chosen by firms with market power and shows how such firms adapt to different market environments. It covers a wide range of topics including recent developments on product bundling, branding strategies, restrictions in vertical supply relationships, intellectual property protection, and two-sided markets, to name just a few. Models are presented in detail and the main results are summarized as lessons. Formal theory is complemented throughout by real-world cases that show students how it applies to actual organizational settings. The book is accompanied by a website containing a number of additional resources for lecturers and students, including exercises, answers to review questions, case material and slides.
Author : Sridhar Moorthy
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Signaling Quality with a Money-Back Guarantee written by Sridhar Moorthy and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Direct marketing is witnessing explosive growth. As consumers increasingly purchase products from their homes, their ability to judge the quality of products they buy is significantly reduced. In this paper we study how money-back guarantees can signal product quality in such environments. We interpret product quality broadly to mean both the level of attributes promised as well as the firm s consistency in delivering on those promises. A key aspect of our formulation is the explicit consideration of transaction costs and alternative signals of product quality. Transaction costs are the costs the seller or buyer faces when redeeming a money-back guarantee. We show that money- back guarantees cannot work as a signal of quality without seller transaction costs. However, if these costs are very large, then there are less costly ways to signal, namely by charging a high price. We compare the signaling performance of (1) price, (2) price with uninformative advertising (+money-burning ), and (3) price with a money-back guarantee. Whereas uninformative advertising does not work at all in our model, under certain conditions a money-back guarantee is necessary to signal, and under other conditions, a money-back guarantee is a useful supplement to price.
Download or read book Advertising as a Signal of Quality, A New Explanation written by and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The present article provides a unified explanation for several phenomena related to advertising by firms. (i) Advertising without repeat purchase of the product, (ii) advertising from established brands, or post-introductory, (iii) simultaneous advertising from low and high quality firms, (iv) its persistence and pro-cyclicality. The explanation is original because it rests upon oligopolistic interaction. The analysis hinges upon two fundamental results. The rst is that advertising allows separation when a signal via prices only does not. The second is that purely dissipative advertising can be used to strategically deter entry. Hence, a link is established between entry deterrence and signaling.
Author : Centre de recherche en économie et statistique (Paris, France)
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (431 download)
Download or read book Entry Deterrence, Product Quality written by Centre de recherche en économie et statistique (Paris, France) and published by . This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel F. Spulber
Publisher : MIT Press
ISBN 13 : 9780262192750
Total Pages : 720 pages
Book Rating : 4.1/5 (927 download)
Download or read book Regulation and Markets written by Daniel F. Spulber and published by MIT Press. This book was released on 1989 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation and Markets provides the up to date, integrated analysis of regulatory policies and the administrative process that is needed in today's field of regulation economics. The book takes a modern perspective, using the tools of industrial organization and game theory. It is the only unified treatment of the field and combines theoretical models with consideration of public policy issues in the areas of antitrust, price regulation, environmental regulation, product quality, and workplace safety. The discussion considers both the welfare effects of regulation and the institutional aspects of the administrative regulatory process. Developments in the fields of law and political science have been integrated in a rigorous manner into the economic framework.Sections of the book address administrative process and market allocation, competition and pricing under increasing returns to scale, administrative regulation of markets, and antitrust enforcement. The conclusion evaluates regulatory policy and deregulation. Extensive literature citations throughout enhance the books value as a reference.
